Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Vincentelli Albert Sangiovanni Sells 1,500 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total transaction of $425,490.00. Following the completion of the sale, the director now owns 42,051 shares in the company, valued at approximately $11,928,186.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Vincentelli Albert Sangiovanni also recently made the following trade(s):

• On Tuesday, September 17th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $275.98, for a total transaction of $413,970.00.
• On Thursday, August 15th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $276.24, for a total transaction of $414,360.00.

Cadence Design Systems Stock Up 0.0 %

Shares of NASDAQ CDNS traded up $0.08 during trading hours on Thursday, hitting $263.03. The stock had a trading volume of 2,234,684 shares, compared to its average volume of 1,709,529. The company has a market capitalization of $71.66 billion, a P/E ratio of 69.50, a P/E/G ratio of 3.37 and a beta of 1.02. The firm’s 50-day moving average price is $269.94 and its two-hundred day moving average price is $285.36. Cadence Design Systems, Inc. has a 52 week low of $228.66 and a 52 week high of $328.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. Analysts anticipate that Cadence Design Systems, Inc. will post 4.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CDNS has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective on the stock in a report on Tuesday, August 6th. Oppenheimer initiated coverage on Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective on the stock. Berenberg Bank initiated coverage on Cadence Design Systems in a report on Tuesday. They set a “buy” rating and a $320.00 price objective on the stock. Finally, Rosenblatt Securities restated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $323.27.

Institutional Investors Weigh In On Cadence Design Systems

Large investors have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC bought a new stake in Cadence Design Systems during the first quarter worth approximately $26,000. ORG Partners LLC boosted its position in Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after purchasing an additional 82 shares during the period. Annapolis Financial Services LLC bought a new stake in Cadence Design Systems during the first quarter worth approximately $32,000. Hollencrest Capital Management boosted its position in Cadence Design Systems by 637.5% during the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock worth $37,000 after purchasing an additional 102 shares during the period. Finally, Rise Advisors LLC bought a new stake in Cadence Design Systems during the first quarter worth approximately $45,000. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.